Isda members to qualify as swap dealers, says Gensler
All 209 Isda primary members could qualify as swap dealers under the Dodd-Frank Act, says CFTC chairman.
All 209 primary members of the International Swaps and Derivatives Association could fall under the definition of swap dealer if they intend to do business in the US, according to Gary Gensler, chairman of the US Commodity Futures Trading Commission (CFTC).
"Two hundred and nine of your members are called primary members," Gensler told attendees at an Isda regional conference in New York yesterday. "Under your own by-laws, a firm is only eligible to be a primary member if it deals in derivatives
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